Borrower Credit Profile Authorization

By clicking the check box following this notice and continuing with the application process, you understand and agree that you are authorizing WebBank, a Utah-chartered industrial bank, and LendingClub Corporation ("LendingClub") to each obtain consumer reports and related information about you from one or more consumer reporting agencies, such as TransUnion, Experian, and Equifax.

You also authorize WebBank and LendingClub to verify information in your application, and you agree that WebBank or LendingClub may contact third parties to verify any such information.

WebBank or LendingClub may use your consumer reports to authenticate your identity, to make credit decisions, to administer the resale of Member Payment Dependent Notes ("MPDNs") associated with your loan, which process is described here, and for related purposes. You direct WebBank and LendingClub to provide on your behalf certain elements of your application, as well as consumer report information, but not including your name, to users of the LendingClub.com website who are registered as investor members ("Investor Members") to use this information in making decisions whether to commit funds to purchase MPDNs. Such Investor Member decisions, in turn, may assist WebBank in making decisions related to your loan. You also authorize LendingClub to provide such information to Investor Members in connection with the resale of MPDNs associated with your loan.

You authorize WebBank and LendingClub to obtain consumer reports each time you request a loan, during the processing or closing of a loan to you, or at various times during the term of your loan in connection with the servicing, monitoring, collection or enforcement of the loan or the resale or potential resale of any MPDNs associated with the loan.

Checking your rate and reviewing loan offers on the LendingClub website will not affect your credit; it will result in a soft credit inquiry which is only visible to you. If you receive a loan through LendingClub, then a hard inquiry will appear on your credit report after you receive that loan.

Financial Innovation

The San Francisco company, which made nearly $100 million last year, is hoping to seize on the success of the online lending industry as it grows into a robust alternative to traditional loans, and validate the industry as a high-tech, quicker version of bank lending that is here to stay.

San Jose Mercury News

Featured Borrower

Adrian

"Not only was my interest rate much lower, the process was so easy– all online with no need to physically go to the bank to fill out even more paperwork."